Real estate investors are increasingly interested in resiliency plans and management best practices regarding the ability of buildings and developments to withstand severe storms and other natural events.
Potential investors want to know about procedures for identifying, mitigating, and disclosing the risks posed by climate change and natural disasters. Investors care about maximizing rent by minimizing risks, and preventative measures are critical, writes Tony Liou, president of Partner Energy, Inc., a provider of energy efficiency consulting services.
Owners can reduce fire risk by cleaning detritus around buildings, and reduce flood damage by relocating mission critical equipment away from flood-prone areas. Such steps can minimize property downtime that would result from expensive and long repairs requiring the property to be vacated.
Owners should conduct an assessment to determine which mitigation measures to adopt based on costs and the business plan. Then they should analyze whether they have adequate insurance coverage for risks that are too costly to mitigate.
Related Stories
| Mar 22, 2012
Bill would reintroduce “opt-out” provision in lead paint law
The Lead Exposure Reduction Amendments Act of 2012 (S2148) would restore the "Opt-Out" provision removed from the Environmental Protection Agency's Lead Renovate, Repair and Painting (LRRP) rule in April 2010.
| Mar 15, 2012
New Florida building code establishes flood and storm surge provisions
The new 2010 code establishes minimum design and construction requirements to protect buildings from wind, rain, floods, and storm surges.
| Mar 15, 2012
Illinois city rejects international code due to home sprinkler requirement
Macomb, Illinois aldermen voted to recommend that the city not adopt 2012 international building and residential code standards requiring the installation of overhead sprinkler systems in newly constructed one-family and two-family homes.
| Mar 15, 2012
Tenant advocates propose licensing landlords in New York City
With thousands of New York City rental units posing potential dangers to tenants, city advocates are proposing measures to make landlords improve building safety.
| Mar 15, 2012
Construction industry a big winner in federal small disadvantaged business procurement
Last year, only 5% of federal contract dollars went to small disadvantaged businesses. Construction and facilities support firms were the biggest beneficiaries.
| Mar 15, 2012
ANSI approves new fall protection standards
The American National Standards Institute (ANSI) has approved two American Society of Safety Engineers' (ASSE) standards addressing fall protection.
| Mar 8, 2012
Engineering innovation provides new option for meeting seismic codes in skyscrapers
Two University of Toronto engineers have developed “viscoelastic-energy-dissipating dampers” to replace many of the heavy concrete beams used in tall structures.
| Mar 8, 2012
CSI webinar on building code compliance March 22
A March 22 webinar will provide an overview of a 28-step process during the design of a building to ensure compliance with building codes.
